City of London Group (CIN)

Sector:

Financials

 52.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 86.12
  • 52 Week Low: 52.50
  • Currency: UK Pounds
  • Shares Issued: 106.81m
  • Volume: 0
  • Market Cap: £56.08m
  • RiskGrade: 112
  • Beta: 0.02

City of London's full year losses widen

By Bianca Boorer

Date: Monday 26 Sep 2016

LONDON (ShareCast) - (ShareCast News) - City of London Group (COLG), an AIM listed investment company that focuses on providing finance to the small and medium enterprises (SME) sector, reported on Monday a deeper annual loss.
Following a significant deterioration in its financial position, its Trade Finance Partners Limited (TFPL) business ceased undertaking new business in the second half of the year and is now focused on recovering advances.

As a result of the £7.2m loss relating to TFPL, the company recorded a loss before tax of £6.8m for the year ending 31 March 2016 compared to £1.6m in 2015.

During the period, the firm also sold its Litigation funding associate Therium in April 2015 for a profit of £1.4m.

Its Credit Asset Management Limited (CAML) raised £5m in 7% preference shares in July and completed a restructuring resulting in the company increasing its interest in CAML from 51% to 85%. Out of the net proceeds £2m was allocated to buy 7% of preference shares in CAML and the balance was used to repay debt. CAML increased its portfolio of owned and managed funds by 31% to £21.3m at the year end.

The company's wider strategic options for CAML are being examined to help it achieve scale, which may result in the sale of the business.

Net asset value per share of the company of fell to 6p from 42p in 2015.

The share price rose 3.70% to 3.50p at 1000 BST on Monday.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CIN Market Data

Currency UK Pounds
Share Price 52.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 86.12
52 Week Low 52.50
Volume 0
Shares Issued 106.81m
Market Cap £56.08m
Beta 0.02
RiskGrade 112

CIN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.5% below the market average33.5% below the market average33.5% below the market average33.5% below the market average33.5% below the market average
15.62% below the sector average15.62% below the sector average15.62% below the sector average15.62% below the sector average15.62% below the sector average
Price Trend
91.95% below the market average91.95% below the market average91.95% below the market average91.95% below the market average91.95% below the market average
95.62% below the sector average95.62% below the sector average95.62% below the sector average95.62% below the sector average95.62% below the sector average
Income Not Available
Growth
53.92% below the market average53.92% below the market average53.92% below the market average53.92% below the market average53.92% below the market average
55% below the sector average55% below the sector average55% below the sector average55% below the sector average55% below the sector average

CIN Dividends

No dividends found

Trades for --2021

Time Volume / Share Price
0 @ 0.000p

CIN Key Personnel

CEO Michael Goldstein

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